•SEC DG, Dr. Emomotimi Agama.

More than 60 million Nigerians engaged daily in gambling activities, spending an estimated $5.5 million every day.

This was disclosed by the Director-General of Securities and Exchange Commission (SEC), Dr. Emomotimi Agama.

Agama made the revelation in a lead paper, titled “Evaluating the Nigerian Capital Market Master plan 2015-2025,” presented during the annual conference of the Chartered Institute of Stockbrokers.

He said, “This reveals a paradox, a risk appetite clearly exists, but not the trust or access to channel that energy into productive investment.”

He disclosed that over $50 billion worth of cryptocurrency transactions flowed through Nigeria between July 2023 and June 2024, underscoring the sophistication and risk tolerance of investors that the traditional market has yet to capture.

Agama raised concerns over the alarmingly low participation of Nigerians in the traditional capital market, revealing that fewer than 4 per cent of the country’s adult population are active investors.

He described the low participation rate as a major impediment to economic growth and capital formation.

In a stunning development that’s sending ripples through the global energy market, the Dangote Refinery in Nigeria is dramatically expanding its production capacity.

Originally designed to process 650,000 barrels of crude oil per day, the refinery is now slated to reach a staggering 1.4 million barrels per day, making it, by far, the largest refinery in the world.

This ambitious expansion marks a significant milestone for the African continent and promises to reshape the landscape of oil refining.

The increased capacity is expected to:

***Boost Nigeria’s Economy

***Generate substantial revenue and create numerous jobs.

***Reduce Reliance on Imports

***Significantly decrease Nigeria’s dependence on imported refined petroleum products, saving billions of dollars

***Impact Global Oil Supply

***Contribute significantly to the global supply of refined products, potentially influencing prices and market dynamics

***Catalyze Industrial Growth

***Spur further industrial development and investment in related sectors.

The announcement has been met with excitement and anticipation, as the world watches the Dangote Refinery solidify its position as a key player in the global energy arena.

… Promises more Development Projects

The Executive Governor of Kogi State, His Excellency Alhaji Ahmed Usman Ododo, has reaffirmed his administration’s commitment to infrastructural development and rural transformation across the state, assuring the people of Takete-Ide community in Mopamuro Local Government Area of immediate intervention on the Takete-Ide–Amuro–Ayede Amuro road.

Governor Ododo gave the assurance during the 2025 Takete-Ide Day Celebration, where he was represented by the Deputy Governor, His Excellency Comrade Joel Salifu Oyibo.

The Governor described Takete-Ide as a land rich in culture, human resources, and heritage, commending the community for its unity and commitment to self-help development initiatives.

“It is a great honor to stand before you, my good people of Takete-Ide.

This land is rich in culture, rich in human resources, and rich in heritage. You have produced great men and women who have distinguished themselves in different walks of life,” Governor Ododo stated.

The Governor expressed appreciation to the community for producing the Commissioner for Information and Communications, Hon. Kingsley Femi Fanwo, who he described as a “committed, visionary, and loyal son” of Kogi State.

“Under our leader, His Excellency Alhaji Yahaya Adoza Bello, I worked closely with your son, Hon. Kingsley Femi Fanwo, for eight years.

Today, we are still working together in my administration. Kogi State is grateful to Takete-Ide for giving us such a dedicated and dependable son,” the Governor said.

On the state of the Takete-Ide–Amuro–Ayede Amuro road, Governor Ododo announced that the Ministry of Works had completed all necessary assessments and that major construction work would soon commence.

He further directed the Kogi State Road Maintenance Agency (KOGROMA) to immediately make the road motorable through grading and filling of critical portions with laterite as a temporary measure.

Governor Ododo also pledged government support for the completion of the Traditional Ruler’s Palace Project, stating that the Ministry of Local Government and Chieftaincy Affairs and the Ministry of Housing and Urban Development would be engaged to ensure progress on the project.

While commending the community for its communal development efforts, the Governor highlighted several ongoing projects in Takete-Ide, including the remodelling of the Government Day Secondary School and the GYB Health Centre.

He announced that furniture had been approved for the school and assured that work would continue on the health facility as part of the over 200 primary healthcare centres being remodelled across the state.

Governor Ododo thanked the people of Takete-Ide for their consistent support for the All Progressives Congress (APC), noting that the party had maintained its dominance in the ward since 2019.

He also acknowledged the impact of the AGILE programme in the community, through which many schoolgirls had benefitted from cash grants, and youths trained in modern agricultural techniques and agribusiness.

“We will continue to empower our youths, helping them move from the streets of idleness to the fields of productivity,” he assured.

The Governor reiterated his administration’s resolve to strengthen security at the grassroots through the recruitment of local hunters and the pensionable appointment of members of the Vigilante Service, many of whom are indigenes of Takete-Ide.

Governor Ododo commended the people for promoting their cultural heritage, describing culture as “our identity, our pride, and a unifying force,” and urged them to continue to pass down traditional values to the younger generation.

He further called for continued support for President Bola Ahmed Tinubu, GCFR, noting that the President’s reforms have opened more financial opportunities for subnational governments to deliver meaningful projects to their people.

“We were able to remodel your school and health centre because we have access to more resources, thanks to the President’s reforms,” he said.

Governor Ododo concluded by extending warm greetings to the people of Takete-Ide and promising that his administration would not forget the community, adding that his personal donation to the Palace and the Youth Entrepreneurial Centre would be communicated through Hon. Kingsley Femi Fanwo.

The 2025 Takete-Ide Day Celebration, organized by a Central Planning Committee chaired by Hon. Kingsley Femi Fanwo, had in attendance top government officials, traditional rulers, and sons and daughters of the community both at home and in the diaspora.

Other dignitaries who accompanied the Deputy Governor to the event included the Commissioner for Agriculture and Food Security, Hon. Timothy Ojoma; Commissioner for Youth and Sports, Hon. Monday Aridaojo Anyebe; Special Advisers to the Governor, Hon. Aboh Ibrahim and Hon. Alilu Yakubu Erosion; Deputy Chief of Staff, Hilary Ojoma Egwudah; Executive Chairman of Lokoja LGA, Hon. Abdullahi Adamu; State Coordinator, AGILE Project, Hon. Tijani Oricha, among others.

The Chairman of Mopamuro Local Government Area, Hon. Ademola Bello; House of Assembly Member representing Mopamuro Constituency, Hon. Olawumi Jacob; and the Special Adviser to the Governor on Cultural Integration, Hon. Sunday Moses David Alumo, also graced the occasion.

In their separate remarks, the Commissioner for Information and Communications, Hon. Kingsley Femi Fanwo, and the National President of the Takete-Ide Progressive Union, Prince Richard Dare Fiki, thanked the State Government for the ongoing infrastructural development in the community and appealed for the rehabilitation of the Orokere Amuro–Takete-Ide Amuro road to ease transportation.

The event featured colourful cultural performances, traditional displays, and warm receptions for dignitaries.

The invited guests also donated money towards the construction of the Palace.

The highest donors were the Senator Representing Kogi West, Senator Sunday Karimi and the Chief Launcher and Philanthropist, Prince Olatunji Olusoji who donated 5 million naira each.